Questions: A(n) is like a master system for tracking the activity of the business. petty cash register chart of accounts expense account check register

A(n) is like a master system for tracking the activity of the business.
petty cash register
chart of accounts
expense account
check register

Transcript text: A(n) $\qquad$ is like a master system for tracking the activity of the business. petty cash register chart of accounts expense account check register

Solution

Answer

The answer is chart of accounts.

Explanation

Option 1: Petty cash register

A petty cash register is used to track small cash expenditures within a business, but it does not serve as a master system for tracking all business activities.

Option 2: Chart of accounts

A chart of accounts is a comprehensive listing of all accounts used in the accounting system of a business. It serves as a master system for tracking all financial transactions and activities, making it the correct answer.

Option 3: Expense account

An expense account is used to track specific expenses incurred by the business, but it is not a master system for tracking all business activities.

Option 4: Check register

A check register is used to record all checks written by the business, but it does not encompass all business activities.

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